Dragon Racing will compete under a new name for season three of the FIA Formula E Championship, after announcing a title sponsor partnership with California start-up Faraday Future.
The four-year partnership, with the option of another four years after, was announced ahead of the Visa London ePrix.
Alejandro Agag, CEO of FIA Formula E, welcomed the partnership and believed it shows the direction that Formula E is taking. He said: “Today we welcome a brand of the future to a championship of the future. A brand like Faraday Future coming to Formula E really symbolises what Formula E is about.
“This year, we’ve learned that every thirteen minutes an electric car is sold in the United Kingdom. The future belongs to electric cars and brands like Faraday Future will come to fill this demand for cleaner mobility and for connected mobility.”
Jay Penske, team principal of Dragon Racing, said: “This is a long-term partnership which was key. Dragon talked to many manufacturers but the commitment Faraday made to Dragon Racing, for four years plus the option for another four years, was the type of partnership we were certainly seeking.”
Marco Mattiacci, who brings in experience from Ferrari and Formula 1, said: “We are extremely proud to be entering the Formula E family. Thank you Alejandro for welcoming us.
“Thank you Jay for creating this partnership. Jay said Faraday Future is here to create one of the best cars in the world, with the main intention to disrupt the automotive business. Faraday Future is the intersection of electric, smart, connected, autonomous new form of mobility.”